Companies /Communication Services

T-Mobile US Inc

NASDAQ: TMUS Telecom Services
$177.75
▼ $1.86 (−1.04%) today
Markets closed · 12:14am ET

Q1 2025 Earnings

Reported Apr 24, 2025, 4:04pm ET · SEC source
$2.58
Beat +4.51%
EPS · est. $2.47
$20.9B
Beat +1.29%
Revenue · est. $20.6B
−3.0%
Trailing market
TMUS vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−8%−4%0Apr 24Apr 25report 4:04pm ETearnings+0.6%−9.6%
−8%−4%0Apr 24Apr 25earnings+0.6%−9.6%
TMUS −9.6%S&P 500 +0.6%
−8%−4%0Apr 24Apr 25report 4:04pm ETearnings+0.9%−9.6%
−8%−4%0Apr 24Apr 25earnings+0.9%−9.6%
TMUS −9.6%NASDAQ +0.9%
−4%0+4%Apr 23May 2report 4:04pm ETearnings+3.5%+0.6%
−4%0+4%Apr 23May 2earnings+3.5%+0.6%
TMUS +0.6%S&P 500 +3.5%
−4%0+4%Apr 23May 2report 4:04pm ETearnings+4.5%+0.6%
−4%0+4%Apr 23May 2earnings+4.5%+0.6%
TMUS +0.6%NASDAQ +4.5%
−11.22%
Day of report
+1.72%
Next session
+6.92%
One week
+3.75%
30 days

S&P 500 over the same 30 days: +6.74%.

Did TMUS Beat Earnings? Q1 2025 Results

T-Mobile US opened 2025 with a record-setting quarter, posting first-quarter earnings of $2.58 per share, a 4.51% beat against the $2.47 consensus estimate, while revenue of $20.89 billion grew 6.6% year-over-year and edged past the $20.62 billion Street forecast by 1.29%. The standout driver behind the results was an unprecedented wave of customer additions, with the carrier adding 1.3 million postpaid net customers in Q1, its best-ever first-quarter haul, pushing total connections to a record 130.9 million. That subscriber momentum flowed directly into the financials, lifting net income 24% to $2.95 billion and propelling Adjusted Free Cash Flow to a Q1 record of $4.40 billion, up 31%. With competitors struggling to hold broadband share, T-Mobile extended its own streak to 13 consecutive quarters of industry-leading High Speed Internet additions. Management translated the momentum into raised 2025 guidance, now targeting Core Adjusted EBITDA of $33.20 to $33.70 billion and Adjusted Free Cash Flow of $17.50 to $18.00 billion.

Key Takeaways
  • Best-ever Q1 postpaid gross and net customer additions
  • Higher postpaid ARPA driven by premium rate plan adoption and growing customers per account
  • High Speed Internet net additions led industry for 13th consecutive quarter
  • Prior year rate plan optimizations providing positive revenue impact
  • Equipment revenue increase from higher average revenue per device and high-end phone mix
  • Lower cost of services from completion of Sprint network decommissioning

“T-Mobile delivered big yet again with outstanding Q1 results across wireless and broadband, including our best ever Q1 total postpaid customer gross and net additions—proof that our consistent customer-first focus has put us in the best position to succeed in this dynamic environment.”

T-Mobile US CEO, on the earnings call

Forward Guidance & Outlook

T-Mobile raised its 2025 financial guidance: Core Adjusted EBITDA is now expected at $33.2–$33.7 billion (up from $33.1–$33.6 billion), net cash provided by operating activities at $27.0–$27.5 billion (up at midpoint from $26.8–$27.5 billion), and Adjusted Free Cash Flow at $17.5–$18.0 billion (up at midpoint from $17.3–$18.0 billion). Capital expenditures remain at approximately $9.5 billion. Postpaid net customer additions guidance is maintained at 5.5–6.0 million, the highest-ever at this point in the year. Effective tax rate is expected at 24%–26%. Guidance excludes pending acquisitions of UScellular and Metronet.

TMUS YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$6.0B$12.0B$18.0B$19.6B$20.9BRevenue$2.4B$3.0BNet Income$4.0B$4.8BOperating Income
$0$6.0B$12.0B$18.0BRevenueNet IncomeOperating Income

TMUS Revenue by Segment

Postpaid service$13.6B+7.6%
Equipment sales$3.7B+14.0%
Prepaid service$2.6B
Wholesale and other service$688.0M

Figures from SEC filings and company reports. Not investment advice.